In Addition to the Internal Auditor, Which of the Following

question 96

Multiple Choice

In addition to the internal auditor, which of the following parties should be present at an exit or closing conference? 1. Audit committee members. 2. The external auditor. 3. The management responsible for the areas covered by the engagement. 4. The chief executive officer.

• A) 2 only
• B) 3 only
• C) 3 and 4 only
• D) 1, 3, and 4 only

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Definitions:

Base Level

The lowest point to which a stream or river can erode its channel, often sea level for rivers.

Reservoir

A large natural or artificial lake used for the storage and regulation of water, often for public water supply, hydroelectric power generation, or flood control.

Isostatic Rebound

The rise of land masses that were depressed by the huge weight of ice sheets during the last glacial period, through a process of readjustment.

Ice

Water frozen into a solid state, which can appear transparent or a more or less opaque bluish-white color, depending on the presence of impurities.